NYSE: NYCB

New York Community Bancorp, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of New York Community Bancorp, Inc. (NYSE: NYCB) between March 1, 2023 and February 5, 2024, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 8, 2024.

If you purchased NYCB securities during the Class Period and would like to join the action, please click “Join This Class Action.”

Class Period:March 1, 2023 through February 5, 2024

Deadline:

41 Days
If you purchased NYCB securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants made materially false and/or misleading statements throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • the Signature Bank acquisition would not be immediately accretive to the Company because it caused New York Community Bancorp to be required to comply with materially enhanced prudential standards, including, among other things, risk-based and leverage capital requirements, and liquidity standards, and required that New York Community Bancorp build capital, reinforce its balance sheet and strengthen its risk management processes;
  • New York Community Bancorp failed to comply with the materially enhanced prudential standards;
  • New York Community Bancorp overstated the quality of its commercial office loan assets;
  • New York Community Bancorp was experiencing higher net charge-offs and deterioration in its commercial office portfolio than represented;
  • New York Community Bancorp was reasonably likely to incur higher loan losses because it was experiencing higher net charge-offs and deterioration in its commercial office portfolio;
  • New York Community Bancorp was reasonably likely to be forced to increase its allowance for credit losses due to its status as Category IV bank;
  • New York Community Bancorp’s loan loss provisions were understated so it overstated quarterly earnings and/or understated quarterly losses;
  • New York Community Bancorp failed to have adequate internal risk or disclosure controls and procedures; and
  • that, as a result of the foregoing, defendants’ statements about New York Community Bancorp’s business, operations and financial condition were materially false and misleading and/or lacked a reasonable basis at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: New York Community Bancorp, Inc.
Stock Symbol: NYCB
Class Period: March 1, 2023 through February 5, 2024
Court: United States District Court Eastern District of New York

Why Rosen Law

The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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